Hackett Plots Evolution of Procurement's Value Proposition to Drive Competitive Advantage, Ensure Long-term Relevance

"What we've detailed here are the steps in a journey that takes procurement organizations 5 to 10 years, at a minimum," said Hackett Procurement Practice Leader Chris Sawchuk. "But the benefits of moving up this evolutionary scale are clear. They begin with broader and deeper spend impact. Then they enable procurement to move beyond cost savings and generate real competitive advantage for their company by harnessing the innovation and intelligence of supply markets."

According to Hackett Senior Business Advisor Pierre Mitchell, "The levels we're detailing with this research build on each other, and companies will evolve at different rates based in their operating models and business needs. Some companies will even find that the highest levels are beyond their grasp. But if companies evolve their model annually, and methodically self-fund new processes, projects, and capabilities, they will make progress and see powerful benefits."